Otto and Swala in Legal Dispute

Monday, May 16, 2016

Swala Energy Ltd. has been served notice by lawyers acting on behalf of Otto Energy Ltd. that Otto has commenced a legal action against Swala Oil and Gas (Tanzania) plc (SOGTP) and current and certain former directors of the company and is seeking to recover a gross amount of approximately $1 million plus alleged damages.

The legal action revolves around Tanzania’s Pangani license, a license operated by SOGTP with a 25% working interest. The company holds a 58% interest in SOGTP. The company, SOGTP and its current and former directors intend to defend such legal action with vigor and, having taken initial legal advice, are of the opinion that Otto’s claim has no legal merit.

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